UBS has entered a strategic partnership with Ant International to expand the use of blockchain-based tokenized deposits, marking a significant step in the Swiss bank’s push to modernize global payment infrastructure.
The two firms signed a Memorandum of Understanding (MoU) in Singapore, a leading hub for institutional blockchain development, underscoring growing momentum behind digital bank money and next-generation treasury solutions.
Adoption of UBS Digital Cash
Under the agreement, Ant International will adopt UBS Digital Cash, UBS’s blockchain-based payment platform launched in pilot form in 2024, to support its global treasury operations.
The platform enables real-time, multi-currency fund transfers and aims to address long-standing inefficiencies in traditional cross-border payments, which remain constrained by cut-off windows, fragmented settlement rails, and slow reconciliation processes.
By integrating tokenized bank money, both companies seek to create faster, more transparent, and more secure payment flows across jurisdictions.
Joint Research and Development
The partnership also includes joint research and development on tokenized deposits. The connected solution will integrate UBS Digital Cash with Ant International’s proprietary Whale platform, an internal blockchain-powered treasury management system.
This combined infrastructure is designed to enable 24/7 liquidity mobility between Ant International entities, enhancing visibility over cash positions and improving global liquidity management without the limitations of conventional payment systems.
Statements from Leadership
Young Jin Yee, Co-Head of UBS Global Wealth Management Asia Pacific and Country Head UBS Singapore, said the collaboration marks an important milestone following last year’s UBS Digital Cash pilot.
“By combining our expertise in digital assets with Ant’s advanced blockchain technology, we are working together to deliver a real-time, multi-currency payment solution that sets standards for transparency and efficiency,” he said.
Kelvin Li, Global Manager of Platform Tech at Ant International, said UBS’s track record in blockchain innovation made the partnership a natural fit. “We share a common belief in the potential of these technologies to transform cross-border payments and look forward to driving greater impact together,” he noted.
Strategic Significance
The partnership underscores UBS’s broader strategy to expand digital asset capabilities and highlights Ant International’s growing role in modernizing global payment and liquidity systems.